Origination

Members from states threatened by storms say their proposal is better for consumers than recent legislation passed by the House Financial Services Committee.

Wells Fargo and JPMorgan Chase recorded stronger mortgage originations in the second quarter as rates fell, but profits from single-family loans were lower than a year ago due to decreased servicing revenue.

Homebuilders' optimism increased as low mortgage rates fueled demand. However, affordability constraints and the continuing scarcity of construction workers and land parcels remain concerns.

Fannie Mae increased its mortgage origination forecast as lower interest rates, driven by economic uncertainty, will lead to more refinance activity, but other factors will continue to hold back home purchases.

Home prices in Arlington County, Va., are likely to reach their peak in July with a median sales price of $675,640, according to the Northern Virginia Association of Realtors.

The surge in home prices has continued across most of Cuyahoga County, Ohio, this year, with the median sales price through the first half of 2019 up 5.4% countywide and gains being posted in about four out of every five cities.

A builder based near the Lake of the Ozarks swindled six families that sought new homes in Kirkwood, Mo., out of $356,000, the builder's federal plea agreement says.

Home prices just set another record in Ada County, Idaho, with the median sale price rising to $354,405 in June. That's $11,415 higher than May's figure, also a record, and 10% higher than in June 2018.

Despite a significant rise in first-mortgage production due to lower interest rates, profits from home lending in Citigroup's retail banking division fell slightly in the second quarter.

A Nomura Holdings Inc. unit will repay customers about $25 million to settle U.S. regulators' allegations that it failed to supervise traders who made false statements in negotiating sales of mortgage securities.